Pensions Administration System (PenAd)

PenAd is a complete software application for an automated pension funds administration and management of defined contributions as well as defined benefits business processes.

Core Modules

1. Pension Fund and Employer Registration

The registration of a pension fund and the employers of the fund’s members is the first step. This involves determination of various factors and parameters that are determined by the actuary. These include the contribution rates, the retirement factors (e.g. early or late retirement tables), purchase of service factors, interpolation factors (for determining capital values) etc. The employers are then registered under the fund of their choice. All members will then be registered under their employer.

2. Membership

This is a module used to capture member details as well as searching and updating, be it individual or company and listed below are some of its functionalities and features:

Capturing of all customer information -Basic details, Contact details, unlimited addresses, postal and physical addresses, email, phone & fax numbers
Unlimited customisable fields
Unlimited history of status changes and other data
Define your own unique member numbering system, for example
- 1^st 3 letters of Surname plus sequential hash
- 1^st letters of First name & Surname plus hash
After registration, member contributions are submitted to the Pension Fund on a monthly basis again either electronically or via manual schedules. Contributions can be uploaded from a text or Excel file.
Employer contributions history represented in graphical form.
Access to Membership Documents

3. Member Exit Benefit Calculation

Various administrative calculations are carried out on Member Exit to determine the benefit depending on the type of benefit being calculated:-

System cater for the following retirement types:

Retirement (Early, Normal, Late)

Death-In-Service

Withdrawal

Death-in-service

For all exit reasons, standard letters are generated for communication with the exiting member.
Automatic Transfer of records to pensions payroll
Dynamic Rules based Benefit Formula Engine(No need to contact developers to make changes)
Strict Audit trail on Formula Calculation Changes (Audit notification in the form of emails)
Access to Benefit Documents

4. Pension Payroll

This a module deals with Pensions payroll. Exited Members will be transferred to this module. Payouts can be made on a monthly basis or as preferred:

Seamless Integration Between payroll module and the pension system
Monthly payroll reports are generated.
Payments can be made by Cash, Cheque, RTGS or EFT.
Final Deduction System (FDS) processing is also carried out through payroll processing.
Payroll reconciliation.
Payroll Reports
Pension Increase/Decrease Handled

5. Communications

This module enables the Fund to communicate with both active contributing members and pensioners:

PenAd interfaces with our bulk communications management system, Campaign Manager
Send out emails and SMS (Available soon) to your members and pensioners
Maintain an unlimited number of mailing lists
Monitor delivery statuses of your campaigns
Receive notification of transmission status

6. Statistics and Reports

This is a module where data and statistical information is reported and represented and listed below are some of its functionalities and features.

Dozens of predefined reports to give you every aspect of your membership
Flexible reporting tool offering multiple views on all your customer data (Custom Report Writer)
Statistical, data, summary, historical and financial reports
Crystal Reports supported so you can write your own reports and integrate them with PenAd
Export reports to common data formats such as Word, Excel, CSV, PDF
Email reports directly without having to save them first
Mail merge feature available. Use plain text or Microsoft Word master documents

7. Documents

This Module in which Member and Pensioner documents relating to the organisation are captured, processed and or archived and listed below are some of its functionalities:

Scan and index all documents and correspondence between your organisation and your customers e.g. membership forms, letters, payslips
Document images stored in separate system in electronic format for fast and easy retrieval

Secure document storage
Workflow integration to automate business processes
Document Router-Route important documents to your customers Newsletters, Publications, Reports
Integrates with Outlook and other Office programs to save documents directly into the system
Side By Side Viewing of Documents (No need to log into another system to view documents. There is Seamless Integration)

Advantages of using PenAd

Reduced total cost of implementation because it is a web application and hence is only installed on one machine (server) and all other client machine browse from it.
Centralised location
Advanced and faster searching and retrieving of important information.
PenAd is fully customisable to suit any organisation and hence contains unlimited custom fields
Robust and accurate calculation
Mail Merge facility that makes it easier to send emails and notifications to members
Easy and accurate tracking of paid-up and unpaid-up members
Crystal Reports – PenAd uses Crystal Reports which is a world class reporting tool and thus making analysis and representation of data and statistical information even easier.
Interfacing ability – PenAd has got the ability to interface with other systems being used by the organisation, e.g. Pastel for accounting

Security:-
- Multiple security configuration options (Menu level, Command level, Page level)
- Encrypted Passwords
Robust audit trail- PenAd has got a flexible audit trail to track who created or modified what as well as saving of user logs
Easy to use interface and user friendly error reporting and data correction capabilities
PenAd is built upon .NET platform 2.0 which is Microsoft’s robust development platform.

Technology

Microsoft .NET Framework 2.0, ASP.NET, VB.NET, SQL Server

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